DAMAC Group and MANTRA Chain Partner to Tokenise Real-World Assets in the Middle East

The partnership will focus on token-based financing for a range of assets, spanning real estate, hospitality, data centres, and other critical sectors.

Real estate conglomerate DAMAC Group has joined forces with blockchain firm MANTRA to tokenise real-world assets (RWAs) in the Middle East.

This strategic partnership will enable fractional ownership and tokenised real estate investment opportunities, aiming to broaden access to valuable assets in the region.

As the Middle East's real estate market continues to expand, this collaboration aims to uncover new avenues for investors to enter the market, particularly those facing traditional barriers in real estate investment.

Highlighting the key aspects of the partnership, a statement from DAMAC Group outlined the focus on token-based financing for various assets, including real estate, hospitality, data centres, and other critical sectors.

This initiative will target assets with a minimum value of $1bn, utilising DAMAC's extensive portfolio of companies to identify suitable candidates for tokenisation.

Commenting on the partnership, Amira Sajwani, MD of Sales and Development at DAMAC Group, said: “At DAMAC, we are always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions.

“Tokenising our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”

This strategic move aligns with DAMAC's goal of opening up real estate investment opportunities in the Middle East, making it more accessible to a global pool of investors, and ultimately enabling fractional ownership for individuals who may have previously been unable to invest in high-value assets.

Set to open up new avenues for investors, DAMAC Group's assets will be available on MANTRA Chain in early 2025, exclusively through the blockchain platform.

This marks a critical development in integrating blockchain technology to enhance the transparency, security, and accessibility of DAMAC Group's diverse assets.

The partnership is expected to be a game-changer in the way real estate is financed and invested in the region.

John Patrick Mullin, CEO and co-founder of MANTRA, highlighted the significance of the collaboration, stating: “This partnership with DAMAC Group is an endorsement for the RWA industry.

“We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain.”